Bitcoin Forum

Hello, I just finished a project I started a few months ago. I created a coin from scratch 100% new code, but I was wondering what is the best way to distribute it fairly.

Even though some of you do not like ICOs I think it is one of the best methods because it prevents false accounts from getting coins like what happens in a free distribution.

I was thinking of doing a small ICO and maybe raise like 10 btc to fund a year of development. What are your thoughts?

Edit: the coin is 100% proof of stake

Non-ASIC PoW.

I forgot to say the coin is 100% proof of stake. That is why I am looking for a fair way to distribute it.

Freely distributed to authors that have published in IEEE journals in the last ten years as verified by their ORCA researcher ID...or something :D

that way there would be no distribution  ::)
to me, it's fair to make a small "ico", find a few investors(100+) and sell them a small share. A few days laters(assuming it will be listed in a exchange) you sell a few more coins. Just don't sell too much.

that way, you have some money to keep developing and give people some cheap coins. with time, price will stabilize.

ICO is a good idea if you really want to continue developing your coin, and you will need money for marketing, a small ICO will help you, you also can give some bounties for the marketers who help you.

There's a helluva lot more than a couple hundred folks that have published in an IEEE journal in the last decade. Even if a fraction of one percent claimed them it would probably be week into the thousands.

Seriously though, I don't think there's a great way to do any ICO, but especially for a pure PoS coin. How can you prove that 98% of people who bought in weren't actually the devs or some other entity that now completely owns the network?

That's an interesting idea, but I'm not sure many of those people are interested in the altcoin scene. Also, a lot of people on this forum would complain a lot.
I just want to find a way so the majority of people is happy about the way I did it.

Maybe I should only accept accounts that are a couple of months old, and display a list of investors publicly so everyone knows who invested and the amount of coins they hold.

If you want to support an obscure project some people are very interested in, use apgsearch (http://catagolue.appspot.com/apgsearch) PoW to distribute the currency, this would provide a rather fair distribution, and make cellular-automaton enthusiasts very happy (wow, huge wave of data!). You can stop the PoW distribution in a few weeks and switch to PoS, be sure to announce it in advance.
The project already has a system for measuring PoW, and is quite ASIC-resistant (no one will build an ASIC in a few weeks anyway, even if it was not).

PoS by design is bad for distribution. It incentivizes people to hoard the coin and then the rich gets richer. That's pretty much the opposite crypto should aim for.

And unlike ICO or PoW, PoS is not an initial distribution method.

For initial distribution you would want to target as many people as possible. So having more options of how people can get coins. Ideally that's ICO, PoW (with both CPU/GPU/ASIC algos), bounties, airdrop, signature campaings, etc.


There are dozens of people owning huge amounts of old accounts, as they are quite cheap to buy.

Best possible solution is to abort the project for starters :D can you tell me why do we even need yet another (COIN)?
Why not spend the time and effort to perfect a few good ones before playing with crypto like it's a game?

Says the guy shilling for byteball, whatever the fuck that is, in his avatar and sig space  ::)

Better distribute freely according to holding of bitcoins or membership so you can build a community. Doing ICO if only your idea is really new otherwise you won't get much and coins will be dumped shortly.

Then you have a big problem. The only fair way for distribution is for energy to be utilized to acquire those rewards or coins. So like bathrobehero said, non ASIC POW is the way. Most of the "supporters" and "developers" of POS are really out there to scam the community. Maybe ICO/POS coins were invented with the no.1 purpose of scamming. I know that is arguable but it is also possible.

 

i agree with this and this is why many of traders don't like with ICO because ICO can be scamming after its finished and after that, the investor can not get profit as the devs said in the beginning. but if you are really serious with your project, then maybe you can start your ICO for testing how much respond from people and what will benefit that your project can give into the investor and for the people.

Definitely not the egalitarian distribution.

There's probably been 50+ projects which tried it and only 1 lives to to this day - NEM.  What happens with these equal distributions is everything becomes dump city, as people scramble to get their free $5-$500, and you're lucky if even 1% becomes active participants in terms of marketing or development.

In truth, the thing with the best track record so far seems to be PoW - although many PoW projects have been failures, I think 8 or 9 of the coins in the top 10 in CMC are PoW.

There are a lot of ways to do a distribution,you can use level rank to distribute the coins,or you can set up a faucet just like what mrai has done..
I have a forum that I want to revive,you can use that to distribute your coin I can make you a co-admin and use hat forum to distribution,you can make it a get coin per post,where you will rewards members for posting on the forum ..
My forum is crypto currency related and so members can relate.

Thank you all for your suggestions. I am going to try do my best to make it fair for everyone.

ico are bad, but distribute it freerly is bad either, what about a small pow phase to distribute it fairly and then full pos? pow phase must be qual as much as possible, with a good reward block curve

Create bounties. Share coins by signature campaign on forum, give them for advertise on twitter, facebook, add your coin to a casino or create your own casino with your coin (exclusively).
I hope this won't be another scam dust coin.  ::)

Fair launch POW coin with anti instamine measures. Then token swap for your coin. The only way really.

actualy I agree with the ICO scheme, It would be the best method, but also I would like some entity to support the price, for example, if you do an 100% mined coin, and sell every coin for 1€, you should support the price at 1€ allways, so if someone want to cash out you should be able to reembolse them, and that way the price never fall under 1€

For me, ICO is the best way for a coin distribution. Like
others project starts at ICO, gives some bounties,
fair distribution, and seeing the coins in signature campaign
that advertise the coins. Also, that advertise in social
mecia campaign will surely be popular in other investors.

If you do a free distribution whales will take over your coin...
As for Byteball, I'm sure FSB agents all the way up to Vlad are getting kickbacks.

Why not set up a forum and pay people with your coin for every good post,you are not giving a fair distribute but you are also contributing to the crypto currency niche and besides you can monetize your forum by displaying ads on it.